Category: Payment Processing

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What Are Cashless ATMs?

While cash has been the go-to payment option for decades, it’s quickly being pushed aside by the convenience of credit and debit cards. Most people prefer to pay with a card rat...

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Understanding POS Debit and Point of Sale Charges

Debit cards have increasingly become the preferred method of payment as it offers the same functionality and security that a credit card does while also limiting a person's spendi...

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What Is A Bank Identification Number (BIN)

The use of credit cards is becoming routine in day-to-day e-commerce businesses. As a result, it is essential to understand everything connected to credit card use. One of the th...

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PIN Debit or Signature Debit: Which Costs Less?

Both PIN debit and signature debit transactions look the same at face value. They are both conducted on a debit card, so what’s the difference? The truth is there are some si...

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What is a Merchant Identification Number?

2021 is on track to be a banner year for new business starts in the U.S., marking a new record for business formation. There was nearly a 23% increase in new businesses starting i...

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How Popular is Discover Card vs. Visa and MasterCard?

Since their inception credit cards have been instrumental in expanding businesses and transactions by facilitating purchases and the expansion of the global economy. Today there a...

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RDFI and ODFI: What’s the Difference

Every ACH transaction goes through two financial institutions: the RDFI and ODFI. These two play major roles in ACH payment processing; one cannot do without the other. However, a...

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How To Accept Credit Cards Over The Phone?

Credit and debit cards have become very common, and only credit card users stand at 1.25 billion individuals. It’s clear that almost everyone has them, and fewer people are usin...

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ACH Transaction fees and the Hidden Costs of Check Processing

The terms "E-check, "EFT", and “ACH" are frequently used together. They might seem interchangeable at times due to the overlap, but they are not the same thing. Electronic Fu...

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